Rhenman & Partners Asset Management AB Has $14.75 Million Position in Cardinal Health, Inc. $CAH

Rhenman & Partners Asset Management AB lifted its stake in shares of Cardinal Health, Inc. (NYSE:CAH) by 70.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,000 shares of the company’s stock after purchasing an additional 39,000 shares during the quarter. Cardinal Health accounts for about 1.6% of Rhenman & Partners Asset Management AB’s portfolio, making the stock its 23rd largest position. Rhenman & Partners Asset Management AB’s holdings in Cardinal Health were worth $14,754,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in CAH. Vanguard Group Inc. boosted its holdings in shares of Cardinal Health by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 30,823,483 shares of the company’s stock valued at $4,838,054,000 after acquiring an additional 247,667 shares in the last quarter. Geode Capital Management LLC increased its holdings in Cardinal Health by 3.3% in the 2nd quarter. Geode Capital Management LLC now owns 6,389,049 shares of the company’s stock worth $1,069,005,000 after purchasing an additional 205,539 shares in the last quarter. Norges Bank acquired a new position in Cardinal Health in the 2nd quarter worth about $584,420,000. Invesco Ltd. raised its position in Cardinal Health by 7.3% in the second quarter. Invesco Ltd. now owns 3,037,782 shares of the company’s stock valued at $510,347,000 after purchasing an additional 207,750 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in shares of Cardinal Health by 2.0% during the second quarter. Legal & General Group Plc now owns 2,349,767 shares of the company’s stock valued at $394,761,000 after purchasing an additional 45,812 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

Cardinal Health Stock Performance

NYSE:CAH opened at $217.89 on Friday. The firm’s fifty day moving average is $215.65 and its 200-day moving average is $189.79. Cardinal Health, Inc. has a 52 week low of $120.72 and a 52 week high of $233.60. The firm has a market cap of $51.27 billion, a P/E ratio of 31.35, a P/E/G ratio of 1.40 and a beta of 0.65.

Cardinal Health (NYSE:CAH) last announced its earnings results on Thursday, February 5th. The company reported $2.63 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.32. The business had revenue of $65.63 billion during the quarter, compared to the consensus estimate of $64.88 billion. Cardinal Health had a net margin of 0.68% and a negative return on equity of 92.50%. Cardinal Health’s quarterly revenue was up 18.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.93 earnings per share. As a group, sell-side analysts anticipate that Cardinal Health, Inc. will post 7.95 earnings per share for the current year.

Cardinal Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Wednesday, April 1st will be given a dividend of $0.5107 per share. The ex-dividend date is Wednesday, April 1st. This represents a $2.04 annualized dividend and a dividend yield of 0.9%. Cardinal Health’s dividend payout ratio is presently 29.35%.

Analyst Ratings Changes

Several analysts have recently weighed in on CAH shares. Evercore boosted their price target on Cardinal Health from $250.00 to $260.00 in a report on Friday, February 6th. Mizuho lifted their target price on shares of Cardinal Health from $222.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, February 6th. Barclays boosted their target price on shares of Cardinal Health from $243.00 to $258.00 and gave the stock an “overweight” rating in a report on Tuesday, February 24th. TD Cowen raised their price target on shares of Cardinal Health from $233.00 to $251.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Finally, JPMorgan Chase & Co. increased their price objective on Cardinal Health from $209.00 to $243.00 and gave the company a “neutral” rating in a report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $245.67.

Cardinal Health Profile

Cardinal Health is a multinational healthcare services and products company headquartered in Dublin, Ohio. Tracing its roots to the early 1970s, the company has grown into a major provider of supply chain and distribution services for the healthcare sector. Cardinal Health operates across a range of service lines that support hospitals, health systems, pharmacies, physician offices and clinical laboratories.

The company’s core activities include the wholesale distribution of branded and generic pharmaceuticals, the supply and distribution of medical-surgical products, and the provision of logistics and inventory management solutions.